What Is Post Office 399 Insurance Plan Pdf Download

What Is Post Office 399 Insurance Plan PDF Download

What Is Post Office 399 Insurance Plan PDF Download Department of Indian Post Office has launched an insurance scheme for the population. This insurance plan allows you can get high insurance for a loss. With this policy, individuals can avail about 10 lakh as per the insurance scheme at 399/- or 299,00 rupees in premiums only. It’s a kind of group term insurance which provides those with all-inclusive accidental protection for their entire life. Life is important, but it’s an experience that requires us to deal with good and also bad ones. Sometimes, unfortunate events happen throughout our lives and because of this, we don’t need any type of insurance plan.

What Is Post Office 399 Insurance Plan Pdf Download

What Is Post Office 399 Insurance Plan Pdf Download

Following a partnership with TATA AIG insurance and post office Department, India post payments bank has launched the New Group Accidental Insurance Plan. It’s also referred to as the 399 Post Office scheme.

Advantages and Benefits of 399 Scheme Scheme 399

There are a few advantages and benefits of the 399 scheme:

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  • 399 scheme family benefits for transportation. If an insured is admitted to hospital due to an accident and the insured’s immediate family is there to greet him in the medical facility, the entire costs for the journey must be paid.
  • 399 scheme offers a daily insurance to the insured during the time of hospitalization resulting from an accident.
  • The 399 scheme also provides OPD expenses in the event that an accident occurs.
  • 399 scheme grants educational benefits for the child of an insured in the event of an accidental death or permanent impairment.
  • 399 scheme offers total disability and permanent disability insurance for the period of 365 days.
  • If a death occurs within one year, the policy provides an unlimited coverage of the amount insured.

Post Office Insurance Scheme 399 plan details

Post Office Group Accidental Insurance includes two types of plans. They are classified as underthe following:

  1. GAG Insurance Basic Option Plan
  2. GAG Insurance Premium Option Plan

Must read – What Is Terminal Illness In Term Insurance?

399 Post Office Accidental Insurance Plan Not Included?

  • Suicide
  • Operations or military services
  • War
  • Illegal act
  • Bacterial Infections
  • Disease
  • AIDS
  • Dangerous sports

Post Office Accident Guard Policy Scheme

  1. in-hospital daily cash provides per day benefits during the duration of hospitalization because of an accident.
  2. Family Travel Benefits (Expenses paid by a immediate relatives member who is insured making arrangements for travel to meet the insured who is in a hospital and is located over 150 kilometres away from his home.
  3. Permanent Partially Disabled This covers partial Disability, which is permanent in nature and takes place within 365 days from the date of the accident.
  4. Accidental Medical Costs OPD The policy covers Out costs incurred by a patient due to an incident in which the insured person goes to a hospital/clinic or other similar facility. The consultation room to determine the cause as well as treatment are based on recommendations of medical Practitioner.
  5. Final Rites Benefit If we’ve accepted an offer for the Accidental Death benefit (B1) which we accept, we will also provide a predetermined amount towards funeral costs

Eligibility Criteria for Post Office Group

The criteria for eligibility for the scheme of Post Office is 399 according to the India Post Office Department. You can see in the following table:

  • The first requirement is that the customer should be a member of the IPPB account.
  • Customers should be aged between 18 and 65 years old.

Differentialities In GAG insurance Basic Option Plan and GAG Insurance Premium Option Plan

App Info

GAG Basic Option Insurance Plan

GAG Premium Insurance Plan Premium Option

Accidental Death Coverage

10 lakh

10 lakh

Permanent Total Disability insurance

10 lakh

10 lakh

Permanent Partial Disability Insurance coverage

10 lakh

10 lakh

Insurance for Paralysis, Accidental Dismemberment or Accidental Dismemberment

10 lakh

10 lakh

Accidental Medical expenses OPD

Fixed to Rs . 30,000 or actual claims, whichever is the lower amount

Fixed to Rs.30,000 or the actual claims, whichever is the lower amount

Accidental Medical expenses IPD

Fixed as high as Rs.60,000 or the actual claims, whichever is lower

Fixed at Rs. 60,000, or the actual claims, whichever is less

Cash in-Hospital Daily

Rs. 1000/day all the way to 10 days (1 day deductible)

Family Transportation Benefits

the amount of Rs.25000 or the actual amount which ever is less

Last Rites Benefit

5000 Rs, or the actual amount the lower of which is greater

Policy Premium

299/-

399/-

Education Benefit

10 percent of SI or Rs 100000 or the actual amount, or Actual, whichever is less for two eligible children

Conclusion

399 scheme for insurance plans is advantageous because these plans assist you in removing oneself from a variety of uncertainties. If you are looking to purchase term insurance through the 399 scheme select the most suitable plans that fit your needs depending on your requirements or demands. These plans provide coverage to ensure that you will always be prepared for important events.

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